Hope To Be Purchasing AKV Tomorrow.

[billsfan]

I am planning to call and join the DVC tomorrow.

Planning to call AKV my "Home"

I have a few questions about the actual buying process.

I have read about getting a referral to save an extra $6 off per point. I have seen that many of my fellow DISers are happy to help with this. How does this work? When I call do I just give the DVC rep the name of some one who is willing to refer me or does the person referring me have the DVC rep call me?

I plan on buying 160 points at the AKV and if my math is correct that would be $15,360 (This is at $96 per point). What can I expect to have to pay right away. (Closing Costs, Down Payment, DVC Dues, any other things?)

I plan on financing the purchase through Disney. What rates are Disney offering and what lengths of terms are they giving?

We both have Disney Visa Cards. Is there any perks for using these cards for down payments, dues, etc?

Will our use year be April?

How long can we expect the process to take and when could we make our first reservation?

Thanks for any information

 

[Ed T]

When you get a member referral you should mention that name and city and state to the sales guide. That member does not have to speak to any sales guide. They will be sent a letter from DVC and if the contract closes and they get the referral they will get a reward certificate for the referral. It is very easy and cost you nothing.

 

[Sandisw]

Lots of great questions.

You would just give the name of the member to the guide and you will be eligible for the incentives.

When you buy, you will have to put 10% down. It is based on the purchase price of $112, as the incentives (discounts off the price) can no longer be applied to down payments, only to reduce the financed portion. So, the additional price per point would be used to reduce the balance.

So, for you, it would be $1792 as a down payment. This can go on your Disney Visa and they give you 0% for 6 months.

Disney's rates range from 10.75 (with direct debit) to 14.25, depending on whether you qualify for preferred or standard financing. My understanding is that it is very easy to get. I have also heard that Disney does offer 5% if you finance only 50% and it is only for 1 year.

Once you agree to purchase, you will have the points almost immediately--I believe within days to make your first reservation. There will also be closing costs, but not sure how much as my initial purchase was through resale and I only bought my add on directly through Disney.

Your UY for points will be whatever one you prefer, providing it is still available, but it is not determinted by when you purchase. The rule of thumb is to get a UY that starts just before you travel as you can bank points in the first 8 months. UY is just when you get your points, that's all. For example, I travel in August most of the time so I got a June UY.

Hope this helps and good luck!!! It is an exciting time!!!

 

[maburke]

I am planning to call and join the DVC tomorrow.

Planning to call AKV my "Home"

I have a few questions about the actual buying process.

I have read about getting a referral to save an extra $6 off per point. I have seen that many of my fellow DISers are happy to help with this. How does this work? When I call do I just give the DVC rep the name of some one who is willing to refer me or does the person referring me have the DVC rep call me?

I plan on buying 160 points at the AKV and if my math is correct that would be $15,360 (This is at $96 per point). What can I expect to have to pay right away. (Closing Costs, Down Payment, DVC Dues, any other things?)

I plan on financing the purchase through Disney. What rates are Disney offering and what lengths of terms are they giving?

We both have Disney Visa Cards. Is there any perks for using these cards for down payments, dues, etc?

Will our use year be April?

How long can we expect the process to take and when could we make our first reservation?

Thanks for any information

Yes, you need to give the name of your referral when you first make the contact with DVC. The referral gets a gift of some sort, and you get the incentives currently offered.

I don't know anything about financing or closing costs, but the minimum down payment is 10% (and that's now before incentives, so off the full $112 price).

The advantage of the DVC visa is that they will give you 6 months interest free on your 10% down payment. if you have 2 accounts in the family, try putting 10% on each card, then you'll get 20% for 6 months interest-free.

They will be pushing a certain use year (was Feb, might be March by now), but you can get any use year you ask for, if you know what you want. Look at the Use Year threads to make that decision; it might end up being important to you.

The whole process might be 2 months until closing, but you will get to make your first reservation right away -- within 12-24 hours of giving your deposit. That's the advantage of direct from Disney over resale.

Good luck! Keep us posted on what you do.

 

[5forDiz]

Once you arrange deposit with your guide usually they can place a reservation for you; for AKV that stay cannot take place prior to the opening of Kidani (May 1st iirc). Not sure on closing costs/fees - seem to recall reading something recently approx. $240 - $300 based on 160 points. Maintenance Fees ( some call dues ) are due each January & amount is based on resort X #points owned there ( for AKV aprox $4.7something ). Disney will pro-rate your MFs for 2009 (Kidani doesn't open until May)

You can request any month you want for your Use Year ( & should almost certainly be able to get it ) but know that January, May, July & November are not Use Years. If you have regular vacation patterns try to pick a Use Year month that begins in the month or month before you'd travel ( ie you typically travel in December, April & July - pick December for UY because you'd have until July 31 each year to bank your points so even for July travel providing you cancelled that reservation 31 days or more in advance you'd still be able to bank the points or would have until Nov 30th to re-use for another trip ).

Here is link to referral thread started by moderator here on DVC boards that you can use to contact a member for purposes of referral if you do not already have someone; some members offer to split the referral gift with the prospective buyer but some states do prohibit the current member from receiving referral 'gift').

http://www.disboards.com/showthread.php?t=2054975&highlight=referral


Best wishes to you and hope to welcome you home real soon